Company Registration No. 10758102 (England and Wales)
Fellpack Limited
Unaudited accounts
for the year ended 31 May 2023
Fellpack Limited
Unaudited accounts
Contents
Fellpack Limited
Company Information
for the year ended 31 May 2023
Directors
John Butterfield
Christopher Gill
Company Number
10758102 (England and Wales)
Registered Office
21 Main Street
Keswick
CA12 5BL
England
Accountants
Goodbooks (Skipton) Ltd
Duke House
Duke Street
Skipton
North Yorkshire
BD23 2HQ
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Fellpack Limited for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Fellpack Limited for the year ended
31 May 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Fellpack Limited, as a body, in accordance with the terms of our engagement letter dated 14 December 2020. Our work has been undertaken solely to prepare for your approval the accounts of Fellpack Limited and state those matters that we have agreed to state to the Board of Directors of Fellpack Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fellpack Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fellpack Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fellpack Limited. You consider that Fellpack Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Fellpack Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Goodbooks (Skipton) Ltd
Chartered Accountants
Duke House
Duke Street
Skipton
North Yorkshire
BD23 2HQ
22 January 2024
Fellpack Limited
Statement of financial position
as at 31 May 2023
Intangible assets
55,234
54,768
Tangible assets
1,655,017
310,109
Cash at bank and in hand
105,973
386,631
Creditors: amounts falling due within one year
(467,712)
(348,133)
Net current (liabilities)/assets
(325,782)
76,916
Total assets less current liabilities
1,384,469
441,793
Creditors: amounts falling due after more than one year
(939,182)
(144,499)
Net assets
445,287
297,294
Called up share capital
24
24
Share premium
99,996
99,996
Profit and loss account
345,267
197,274
Shareholders' funds
445,287
297,294
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by
John Butterfield
Director
Company Registration No. 10758102
Fellpack Limited
Notes to the Accounts
for the year ended 31 May 2023
Fellpack Limited is a private company, limited by shares, registered in England and Wales, registration number 10758102. The registered office is 21 Main Street, Keswick, CA12 5BL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Leasehold improvements over the remaining term of the lease. Freehold buildings 1% straight line.
Fixtures & fittings
25% straight line.
Computer equipment
33.3% straight line.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Fellpack Limited
Notes to the Accounts
for the year ended 31 May 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 June 2022
62,001
-
62,001
At 31 May 2023
62,001
8,000
70,001
At 1 June 2022
7,233
-
7,233
Charge for the year
6,200
1,334
7,534
At 31 May 2023
13,433
1,334
14,767
At 31 May 2023
48,568
6,666
55,234
At 31 May 2022
54,768
-
54,768
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
294,132
260,482
2,004
556,618
Additions
1,402,172
82,331
1,290
1,485,793
At 31 May 2023
1,696,304
342,813
3,294
2,042,411
At 1 June 2022
163,828
80,824
1,857
246,509
Charge for the year
68,524
71,969
392
140,885
At 31 May 2023
232,352
152,793
2,249
387,394
At 31 May 2023
1,463,952
190,020
1,045
1,655,017
At 31 May 2022
130,304
179,658
147
310,109
Fellpack Limited
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
Accrued income and prepayments
5,106
7,896
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
18,824
10,000
Trade creditors
74,196
55,202
Taxes and social security
88,710
35,059
Other creditors
162,118
179,556
Loans from directors
22,825
-
Deferred income
16,951
784
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
114,999
114,999
9
Transactions with related parties
At the reporting date the following amounts were owed to directors: Mr J C Butterfield £22,825 (2022 - £nil) and Mr C Gill £nil (2022 - £nil). A further amount of £61,625 (2022 - £nil) was owed to JX Consulting Limited, a company controlled by Mr Butterfield. These amounts are included within creditors and are unsecured, repayable on demand and accruing interest at 5% per annum.
At the reporting date the following amounts were owed to shareholders: Mr P Sanchez £10,375 (2022 - £nil) and Mr J Appleton £10,375 (2022 - £nil). These amounts are included within creditors and are unsecured, repayable on demand and accruing interest at 5% per annum.
At the reporting date the following amount was owed to shareholders: Mr T & Mrs P Parsons £114,999 (2022 - £114,999). A further £80,000 was payable to Think Design Deliver Limited, a company controlled by Mr T Parsons. These amounts are included in creditors and are unsecured, interest is payable at 5% and repayment is due within five years.
10
Average number of employees
During the year the average number of employees was 51 (2022: 47).